According to Strata UK, developing healthy money habits is an important step to achieving healthy financial wellbeing.
While setting money goals and getting a grasp on managing your finances may seem daunting, once you are able to break your spending into bite-size pieces, it quickly begins to feel more manageable.
As we step into the new year, harnessing the power of smart financial strategies can take your savings from 0 – 100 in no time.
Let’s explore five exciting ways to unlock the money magic and boost your savings in 2024.
Harness The Power of Automated Savings:
Financial psychologist, Brad Klontz says that automation boosts your savings by more than 70%.
When you automate your savings, you become more consistent while worrying less about manually crediting your savings account.
One tool that helps you achieve this easily is the Rosabon App which allows you to set up your savings and investments and automate them without any stress.
Find Strategic & Rewarding Investment Plans For Long Term Growth:
To build long-term wealth, you need to be strategic with your investment or savings activities. Invest in a safe, flexible and highly rewarding plan like the Rosabon Earning Plan – REAP.
The Rosabon Earning Plan – REAP is a rewarding investment plan created for all levels of income earners to ensure that everyone has a chance at achieving their long and short-term goals while enjoying a financial worry-free future.
With REAP, you earn up to 14.5% interest on your funds in addition to a flexible monthly payment plan giving you the chance to plan towards your BIG DREAMS without feeling the heat.
Set A Budget
If you want to successfully achieve your money goals, it is important to set a budget.
To begin your journey to healthy money habits, start by documenting your monthly income and begin to work your way down your expenses.
Start with fixed expenses like insurance, utility bills, rent, etc. Once this is established, take a look at your other expenses and find ways to possibly reduce your bills.
It is important to regularly review your budget to track your spending patterns and identify areas where you can cut back or save more.
Don’t forget that a well-crafted budget empowers you to make informed financial decisions for the future!
Get A Side Hustle:
Nigerian consumer prices rose higher than it had ever done in the past three decades to 28.9% in December 2023.
If this doesn’t push you to double your income, then we don’t know what else would. This is the best time to embrace the world of side hustles. Whether freelancing, tutoring, or selling handmade products, having a side hustle improves your finances a great deal.
Are you looking for the best way to double your income this year, sign up for the Rosabon Brokerage Program today.
Invest In Financial Education:
If you are still reading this blog, it means you are already on the right track! Hooray 😊😊
Now more than ever, it is important to educate yourself on topics like budgeting, investing, and debt management. Thankfully, there are so many resources, on the internet to help you get started.
If you’re confused or intimidated by the terms you find on the internet, no worries! We are here to make financial advice and resources accessible to everyone via this blog and the Rosabon App.
It is important to remember that the more you understand about your personal finance, the better equipped you’ll be to navigate the complexities of the financial world.
By incorporating these strategies you are well on your way to enjoying a prosperous financial future. Cheers to a new year filled with financial breakthroughs!
